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= Market Research for IT Startups =
−
= Software Project (Fundamentals to Software Engineering from 2021 check another syllabus) =
  
  +
* '''Course name''': Market Research for IT Startups
−
* Course name: Software Project (Fundamentals to Software Engineering from 2021 check another syllabus)
  
  +
* '''Code discipline''':
−
* Course number: S20-SP
  
  +
* '''Subject area''': Technological Entrepreneurship
   
−
== Course Characteristics ==
 +
== Short Description ==
  +
This course is for students who see themselves as entrepreneurs. The course is designed for the early development of business ideas and provides methods and guidelines for business research. The course teaches how to assess the potential of business ideas, hypothesis thinking, methods for generating ideas and testing their quality
   
  +
== Prerequisites ==
−
=== Key concepts of the class ===
  
   
  +
=== Prerequisite subjects ===
  +
* N/A
   
  +
=== Prerequisite topics ===
−
=== What is the purpose of this course? ===
  
  +
* N/A
−
The main objectives of this course are the following: \begin{itemize} \item To understand agile models of interaction design, development, and project management and put those concepts in practice in real software development. \item To get acquainted with processes, technologies, and activities involved eliciting, analyzing, validating, specifying, and managing functional and non-functional requirements of software systems. \item To manage risks and decisions making based on the risk management \item To be able design software, and to write code that sticks to good practices of cohesion, coupling, modularity, reusing, and encapsulation. \item To get familiar with standard reliability techniques such as validation (testing) and verification. \item To gain practical experience with refactoring techniques to improve the quality of existing code. \end{itemize}
  
−
=== Course objectives based on Bloom’s taxonomy ===
  
   
  +
== Course Topics ==
−
==== - What should a student remember at the end of the course? ====
  
−
By the end of the course, the students should be able to
  
−
* recall Agile manifesto and principles
  
−
* recognize different Agile frameworks
  
−
* define core principles and rituals of Scrum framework
  
−
* list different types of product backlog items
  
−
* recall main concept of system testing, VCM, software architecture, technical debt
  
−  
−
==== - What should a student be able to understand at the end of the course? ====
  
−
By the end of the course, the students should be able to
  
−
* discus pros can cons of different project management tools
  
−
* describe criteria for good product backlog
  
−
* describe criteria for efficient user stories
  
−
* explain how to conduct iteration planing, review and retrospective
  
−
* discuss possible strategy of Agile implementation
  
−  
−
==== - What should a student be able to apply at the end of the course? ====
  
−
By the end of the course, the students should be able to
  
−
* elicit requirements and work with requirements
  
−
* design, implement, verify and maintain efficient systems
  
−
* present work in front of stakeholders
  
−
* effectively critiquing the work of others and receiving such criticism
  
−
* work in a development team and collaborate between different teams
  
−
=== Course evaluation ===
  
 
{| class="wikitable"
  
{| class="wikitable"
−
|+ Course grade breakdown
 +
|+ Course Sections and Topics
 
|-
  
|-
  +
! Section !! Topics within the section
−
! Type !! Points
  
 
|-
  
|-
−
| Group work || 60
 +
| Ideation tools ||
  +
# Art VS Creativity
  +
# Ability to discover
  +
# How to generate ideas
  +
# Creativity sources
  +
# Ideation in groups
  +
# Rules for ideation for startups
 
|-
  
|-
  +
| Market research content ||
−
| Individual work || 40
  
  +
# Types of research: primary vs secondary
  +
# How to plan a research
  +
# Market research chapters content
  +
# Frameworks used in a market research (SWOT, Persona, etc)
  +
# Tools and sources to conduct a competitors analysis
 
|-
  
|-
−
| Test || 10
 +
| Customer development ||
  +
# Interviews are the main tool for “Get Out The Building” technique
−
|}
  
  +
# The "Mum's Test"
−  
  +
# Jobs-To-Be-Done
−
=== Grades range ===
  
  +
# Good and bad interview questions
−
{| class="wikitable"
  
−
|+ Course grading range
  
−
|-
  
−
! Grade !! Points
  
 
|-
  
|-
−
| A || [85, 100]
 +
| Market sizing ||
  +
# Market analysis VS market sizing
  +
# Sizing stakeholders and their interests
  +
# Sizing methods
  +
# TAM SAM SOM calculation examples
 
|-
  
|-
  +
| Data for a research ||
−
| B || [75, 84]
  
  +
# Sources and tools for competitors overview
  +
# Sources and tools for product and traffic analysis
  +
# Sources and tools for trend watching
  +
# Life hacks for search
 
|-
  
|-
  +
| Founder motivation ||
−
| C || [60, 74]
  
  +
# Ways to Stay Motivated as an Entrepreneur
  +
# Exercises for founders motivation
 
|-
  
|-
−
| D || [0, 59]
 +
| Pitch Day ||
  +
# Market research results presentations
 
|}
  
|}
−
=== Resources and reference material ===
  
−
* Essential Scrum: a practical guide to the most popular agile process by Kenneth S. Rubin.
  
−
* Lean Software Development in Action by Janes, Andrea, Succi, Giancarlo
  
−
* Software Architecture in Practice, Third Edition by Rick Kazman, Paul Clements, Len Bass
  
−
* Design Patterns: Elements of Reusable Object-Oriented Software 1st Edition by Erich Gamma, Richard Helm, Ralph Johnson
  
−
* Pro Git by Ben Straub and Scott Chacon
  
−
== Course Sections ==
  
−
The main sections of the course and approximate hour distribution between them is as follows:
  
−
=== Section 1 ===
  
   
  +
== Intended Learning Outcomes (ILOs) ==
−
==== Section title ====
  
−
Introduction
  
   
−
==== Topics covered in this section ====
 +
=== What is the main purpose of this course? ===
  +
This course aims to give students theoretical knowledge and practical skills on how to assess market potential at an early stage of an IT startup (or any company) development. The ultimate goal is to teach students to conduct market research for their business.
−
* Course explanation
  
−
* Transformation in IT Sphere
  
−
* Modern trends and the evolution of development processes
  
−
* Building IT teams (roles and responsibilities)
  
−
* Philosophy of Agile
  
−
* Projects presentation
  
   
  +
=== ILOs defined at three levels ===
−
==== What forms of evaluation were used to test students’ performance in this section? ====
  
  +
  +
==== Level 1: What concepts should a student know/remember/explain? ====
  +
By the end of the course, the students should be able to ...
  +
* Market research techniques using open data,
  +
* Typology of market assessment methods,
  +
* Types of research data and their application,
  +
* Market research components: competitors overview, value proposition, trend watching, venture status, business models, buyers profile etc
  +
  +
==== Level 2: What basic practical skills should a student be able to perform? ====
  +
By the end of the course, the students should be able to ...
  +
* Methods of ideation,
  +
* TAM SAM SOM method, 2 approaches,
  +
* Applied tools and resources for market sizing,
  +
* Principles to work with business hypotheses
  +
  +
==== Level 3: What complex comprehensive skills should a student be able to apply in real-life scenarios? ====
  +
By the end of the course, the students should be able to ...
  +
* Identify and describe the market
  +
* Assess market potential for any business idea
  +
* Conduct relevant market research before starting up a business
  +
* Use the most relevant and high-quality data for a market research
  +
  +
== Grading ==
  +
  +
=== Course grading range ===
 
{| class="wikitable"
  
{| class="wikitable"
 
|+
 
|+
 
|-
  
|-
  +
! Grade !! Range !! Description of performance
−
! Form !! Yes/No
  
 
|-
  
|-
  +
| A. Excellent || 85.0-100.0 || -
−
| Development of individual parts of software product code || 0
  
 
|-
  
|-
−
| Homework and group projects || 1
 +
| B. Good || 70.0-84.0 || -
 
|-
  
|-
  +
| C. Satisfactory || 50.0-69.0 || -
−
| Midterm evaluation || 0
  
 
|-
  
|-
−
| Testing (written or computer based) || 1
 +
| D. Fail || 0.0-50.0 || -
  +
|}
  +
  +
=== Course activities and grading breakdown ===
  +
{| class="wikitable"
  +
|+
 
|-
  
|-
  +
! Activity Type !! Percentage of the overall course grade
−
| Reports || 1
  
 
|-
  
|-
  +
| Paper #0: Market research structure || 0-10 scale (costs 10% final)
−
| Essays || 0
  
 
|-
  
|-
  +
| Paper #1: TAM SAM SOM || 0-10 scale (costs 20% final)
−
| Oral polls || 1
  
 
|-
  
|-
  +
| Workshops activity || 3 points for each of 7 workshops: 1 point=participation, 2 points=discussion, 3 points=valuable results (costs 21% final)
−
| Discussions || 1
  
  +
|-
  +
| Paper #2: Market research || 0-10 scale (costs 30% final)
  +
|-
  +
| Final Presentation || 0-10 scale (costs 20% final)
 
|}
  
|}
   
  +
=== Recommendations for students on how to succeed in the course ===
−
==== Typical questions for ongoing performance evaluation within this section ====
  
  +
Participation is important. Showing up and participating in discussions is the key to success in this course.<br>Students work in teams, so coordinating teamwork will be an important factor for success.<br>Reading the provided materials is mandatory, as lectures will mainly consist of discussions and reflections not slides or reading from scratch.<br>The main assignment in the course is Market research paper which is supposed to be useful not only for this course but s a basis for future business oriented courses
−
# First, discuss your class project with a stakeholder. With your target stakeholder in mind, design an interview script with closed- and open-ended questions that cover the professional background or knowledge. The questions should also explore in- depth how that person conducts their business in the problem space.
  
−
# Second, prepare to conduct the interview. Plan for 15 minutes and record the interview using an audio recorder. Take brief notes as you go, recognizing that you have the audio recording to complement your notes.
  
−
# Third, transcribe 1-page of information from your interview that describes the most relevant events to your project. This should include the user’s goals and any explanation of how and why they pursue those goals.
  
−
# Fourth, choose 60-second sample from audio file that cover most important information and provide (word-to-word) transcription of it.
  
   
  +
== Resources, literature and reference materials ==
−
==== Typical questions for seminar classes (labs) within this section ====
  
−
# Create 4-pages document with comparison for tools Project management tools and mind map tools
  
−
# Create 10 minutes presentation with tools observation.
  
   
  +
=== Open access resources ===
−
==== Tasks for midterm assessment within this section ====
  
  +
* - article with reflections on the methodology book on the 55 typical business models
  +
* - a book with instructions on how to communicate with your potential users. How to conduct interviews so that you understand what the client wants to say and not what you want to hear.
  +
* - the case book on the Jobs To Be Done. With JTBD, we can make predictions about which products will be in demand in the market and which will not. The idea behind the theory is that people don't buy products, but "hire" them to perform certain jobs.
  +
* A selection of with a summary of key ideas from Harvard Business Review
  +
* F. Sesno "" - the book on how to get information out of people through questions.
  +
* a visual guide book to dealing with your inner procrastinator
   
  +
=== Closed access resources ===
  +
* Crunchbase.com
  +
* Statista.com
   
  +
=== Software and tools used within the course ===
−
==== Test questions for final assessment in this section ====
  
  +
* Boardofinnovation.com
−
# What is the project management triangle?
  
  +
* Miro.com
−
# What does mean challenging project?
  
  +
* Notion.com
−
# What the structure of waterfall model?
  
  +
* MS Teams
−
# What the difference between iterative and incremental model?
  
−
# What the key points in scrum process model?
  
−
# What differences between functional, cross-functional and team overlap structures?
  
−
# What difference between semantic vs episodic memory?
  
−
# What are the basis components of a question
  
−
=== Section 2 ===
  
   
  +
= Teaching Methodology: Methods, techniques, & activities =
−
==== Section title ====
  
−
Iteration 0
  
   
  +
== Activities and Teaching Methods ==
−
==== Topics covered in this section ====
  
−
* Impact mapping
  
−
* Introduction to Product Backlog,
  
−
* Assessing criteria’s DEEP and INVEST
  
−  
−
==== What forms of evaluation were used to test students’ performance in this section? ====
  
 
{| class="wikitable"
  
{| class="wikitable"
  +
|+ Teaching and Learning Methods within each section
−
|+
 
 
|-
  
|-
  +
! Teaching Techniques !! Section 1 !! Section 2 !! Section 3 !! Section 4 !! Section 5 !! Section 6 !! Section 7
−
! Form !! Yes/No
  
 
|-
  
|-
  +
| Problem-based learning (students learn by solving open-ended problems without a strictly-defined solution) || 1 || 1 || 1 || 1 || 1 || 1 || 1
−
| Development of individual parts of software product code || 0
  
 
|-
  
|-
  +
| Project-based learning (students work on a project) || 1 || 1 || 1 || 1 || 1 || 1 || 1
−
| Homework and group projects || 1
  
 
|-
  
|-
  +
| Differentiated learning (provide tasks and activities at several levels of difficulty to fit students needs and level) || 1 || 1 || 1 || 1 || 1 || 1 || 1
−
| Midterm evaluation || 1
  
 
|-
  
|-
  +
| Contextual learning (activities and tasks are connected to the real world to make it easier for students to relate to them); || 1 || 1 || 1 || 1 || 1 || 1 || 1
−
| Testing (written or computer based) || 0
  
 
|-
  
|-
  +
| Business game (learn by playing a game that incorporates the principles of the material covered within the course). || 1 || 1 || 1 || 1 || 1 || 1 || 1
−
| Reports || 1
  
 
|-
  
|-
  +
| inquiry-based learning || 1 || 1 || 1 || 1 || 1 || 1 || 1
−
| Essays || 0
  
  +
|}
  +
{| class="wikitable"
  +
|+ Activities within each section
  +
|-
  +
! Learning Activities !! Section 1 !! Section 2 !! Section 3 !! Section 4 !! Section 5 !! Section 6 !! Section 7
  +
|-
  +
| Interactive Lectures || 1 || 1 || 1 || 1 || 1 || 1 || 1
  +
|-
  +
| Lab exercises || 1 || 1 || 1 || 1 || 1 || 1 || 0
  +
|-
  +
| Group projects || 1 || 0 || 0 || 0 || 0 || 1 || 1
  +
|-
  +
| Flipped classroom || 1 || 1 || 1 || 1 || 1 || 1 || 0
  +
|-
  +
| Discussions || 1 || 1 || 1 || 1 || 1 || 1 || 1
  +
|-
  +
| Presentations by students || 1 || 0 || 1 || 0 || 0 || 0 || 1
  +
|-
  +
| Oral Reports || 1 || 0 || 1 || 0 || 0 || 0 || 1
  +
|-
  +
| Cases studies || 0 || 1 || 0 || 1 || 1 || 1 || 0
  +
|-
  +
| Experiments || 0 || 0 || 1 || 0 || 0 || 0 || 0
  +
|-
  +
| Written reports || 0 || 0 || 1 || 0 || 0 || 1 || 0
 
|-
  
|-
  +
| Individual Projects || 0 || 0 || 0 || 1 || 0 || 0 || 0
−
| Oral polls || 1
  
 
|-
  
|-
  +
| Peer Review || 0 || 0 || 0 || 0 || 0 || 0 || 1
−
| Discussions || 1
  
 
|}
  
|}
   
  +
== Formative Assessment and Course Activities ==
−
==== Typical questions for ongoing performance evaluation within this section ====
  
−
# Create an impact map for your project in one of the mind mapping tools.
  
−
# Write a one- to two-page reflection: based on your experience during this exercise, what were the strengths and weaknesses of impact maps? Did you find impact maps helpful to surface any particular assumptions, or were there issues that were difficult to express using this technique?
  
−
# Create a presentation of your impact map. Be sure that it is easy to follow and readable. Prepare for 10 minutes exhibition plus 3 minutes Q&A session.
  
   
  +
=== Ongoing performance assessment ===
−
==== Typical questions for seminar classes (labs) within this section ====
  
−
# Create an impact map for one of the project that was presented, ask questions if have problems with creation
  
−
# Present the results and answer to group mate questions
  
   
  +
==== Section 1 ====
−
==== Tasks for midterm assessment within this section ====
  
  +
{| class="wikitable"
  +
|+
  +
|-
  +
! Activity Type !! Content !! Is Graded?
  +
|-
  +
| Discussion || Difference between Art and Creativity. Examples from your personal experience <br> Tools to manage your attention: work with exercises above <br> Is it true that an ideation stage is the very first step to take when starting your own business? If not, what needs to be done before? <br> Idea diary: share your experience, was it useful? How to keep motivation to continue? <br> Sharing your business ideas: is it risky for a founder? Why? <br> Name and discuss principles of hypothesis thinking <br> Name and comment on ideation tool you know. Did you have an experience with it? <br> Where to take creativity? Your advice <br> Lets find examples of “Steal like an artist” approach among startups <br> Create a list of 5 business ideas you have ever had in your mind. Choose 1 and make an exhaustive list of the problems that are associated with the proposed business idea. || 0
  +
|-
  +
| Workshop || Break into teams, choose from the list below 1 tool to work with. Use the templates to create new business ideas. Summarize the results. Share your results and experience of using the template with other teams || 1
  +
|-
  +
| Exercise || Start an "Idea diary" (not necessarily business ideas): create a convenient place for notes (notion, pinterest, instagram, paper notebook, etc.). Note the time/place/circumstances of ideas coming, learn to write down ideas. Draw conclusions from 1 week's work: where, when, how, why new ideas arise and whether you can manage their flow. || 0
  +
|}
   
  +
==== Section 2 ====
  +
{| class="wikitable"
  +
|+
  +
|-
  +
! Activity Type !! Content !! Is Graded?
  +
|-
  +
| Discussion || What are the basic steps in market research? <br> What are the commonly used market research methods? <br> What research question types can be asked in surveys? <br> Should startup prefer primary or secondary research? || 0
  +
|-
  +
| Workshop || SWOT analysis: compare your business idea with competitors and market situation <br> Get familiar with industry trends and reports: Find and create a list of 3 to 5 business research papers or trend reports in your industry || 0
  +
|-
  +
| Home written assignment || Market research doc: create a structure that is: <br> 1-2 pages long <br> Describes your business idea <br> Contains the structure of your future research <br> Contains a list of questions to answer during the research for each chapter proposed <br> Contains links and references to data sources potentilly interesting to use in a research <br> Its feasible: it should be a chance you may answer all the questions stated in the doc <br> The doc format is designed and well structured || 1
  +
|}
   
  +
==== Section 3 ====
−
==== Test questions for final assessment in this section ====
  
  +
{| class="wikitable"
−
# Describe the Impact mapping strategy. Reason how it might help to create product backlog.
  
  +
|+
−
# Discuss the difficulties with using impact map technique.
  
  +
|-
−
# What means appropriate level of detail in the backlog?
  
  +
! Activity Type !! Content !! Is Graded?
−
# With given user story provide its evaluation with INVEST grading criteria’s.
  
  +
|-
−
=== Section 3 ===
  
  +
| Oral test || Good or bad interview question? <br> Useful or useless feedback? || 0
−  
  +
|-
−
==== Section title ====
  
  +
| Workshop || Work on your customer profile using the Persona template. Make a client interview script with the help of the Problem-validation-script. || 1
−
Iteration 1
  
  +
|-
−  
  +
| Case study || Watch the video with the case study. This is an example of HOW NOT to take a customer discovery interview. Discuss what went wrong? || 0
−
==== Topics covered in this section ====
  
  +
|}
−
* Methods for Product Backlog estimation
  
−
* Definition of Done (DoD)
  
−
* Acceptance criteria (AC)
  
−
* Sprint Planning / Review /Retrospective
  
   
  +
==== Section 4 ====
−
==== What forms of evaluation were used to test students’ performance in this section? ====
  
 
{| class="wikitable"
  
{| class="wikitable"
 
|+
 
|+
 
|-
  
|-
  +
! Activity Type !! Content !! Is Graded?
−
! Form !! Yes/No
  
 
|-
  
|-
  +
| Workshop || Estimate your target market using the TAM-SAM-SOM template in MIRO. Explain the data. || 1
−
| Development of individual parts of software product code || 1
  
 
|-
  
|-
  +
| Case study || Learn a market sizing case: online babysitting service || 0
−
| Homework and group projects || 1
  
  +
|}
  +
  +
==== Section 5 ====
  +
{| class="wikitable"
  +
|+
 
|-
  
|-
  +
! Activity Type !! Content !! Is Graded?
−
| Midterm evaluation || 0
  
 
|-
  
|-
  +
| Workshop || Use 3 tools from this lesson's theory that you are least familiar with or have not used at all. From each source, take one insight on the state of your project's market. (For example, the total size of your target market, a leading competitor, number of users, or a growing trend) || 0
−
| Testing (written or computer based) || 0
  
 
|-
  
|-
  +
| Oral presentation || Take one tool from the list below and create a “how-to” guide to the service for your classmates. The guide could be done in a form of 1) video-instruction 2) text 3) visualized scheme 4) presentation. The guide must answer how to use a tool and give an example of its use on concrete case study. Studying the guide should take your reader not mach then 15 min. || 1
−
| Reports || 1
  
  +
|}
  +
  +
==== Section 6 ====
  +
{| class="wikitable"
  +
|+
 
|-
  
|-
  +
! Activity Type !! Content !! Is Graded?
−
| Essays || 1
  
 
|-
  
|-
  +
| Workshop || Exercises: <br> Personal SWOT Analysis <br> List of Personal Achievements <br> Analysis of Motivating Activities <br> Your Personal Vision || 0
−
| Oral polls || 1
  
  +
|}
  +
  +
==== Section 7 ====
  +
{| class="wikitable"
  +
|+
 
|-
  
|-
  +
! Activity Type !! Content !! Is Graded?
−
| Discussions || 1
  
  +
|-
  +
| Pitch session || The final Market Research report should follow the structure discussed <br> Content of the oral presentation may include: business description, market overview, main sources used in the research, competitors overview, monetization opportunity, market size, further stages of research or business work, team, comments on some challenges during the work || 1
 
|}
  
|}
   
  +
=== Final assessment ===
−
==== Typical questions for ongoing performance evaluation within this section ====
  
  +
'''Section 1'''
−
# Update your product backlog with clarification of user stories that will come to the Iteration 2.
  
  +
# For the final assessment, students should complete the Market Research paper.
−
# Provide the estimation for your user stories in story points based on the planning poker technique. Use as the basis your team velocity for Iteration 1.
  
  +
# It should follow the market research paper structure, contain information about market volume (TAM SAM SOM), data must be gathered with help of data sources learnt.
−
# Apply for every user story in the product backlog the acceptance criteria in a format that was presented during the lectures.
  
  +
# The paper should refer to market potential and give the basis to make business decisions, answer questions on how to start and develop your idea, what is your business model, target customer persona, product MVP etc.
−
# Create a definition of done checklist for your project.
  
  +
# Grading criteria for the final project presentation:
−
# Provide brief justification of statements in your checklist.
  
  +
# Market sizing has been carried out
−
# Create slides to present your acceptance criteria for user stories, and your definition of the done checklist.
  
  +
# Customer segments are named
−
# Consider to present it with your Sprint 1 deliveries. The final performance should be no more than 10 minutes plus 3 minutes Q&A session.
  
  +
# Сompetitor analysis has been conducted
  +
# At least 2 prominent data sources are used
  +
# Customer discovery interviews conducted
  +
# Future steps are mapped out
  +
# The final report is visualized clearly and transparent
  +
'''Section 2'''
  +
  +
'''Section 3'''
  +
  +
'''Section 4'''
  +
  +
'''Section 5'''
  +
  +
'''Section 6'''
  +
  +
'''Section 7'''
  +
  +
  +
=== The retake exam ===
  +
'''Section 1'''
  +
# For the retake, students have to submit the results of the market sizing exercise with the TAM SAM SOM method in the form of a visual framework studied.
  +
'''Section 2'''
  +
  +
'''Section 3'''
   
  +
'''Section 4'''
−
==== Typical questions for seminar classes (labs) within this section ====
  
−
# Update estimation for US and provide AC for the project that was presented last seminar classes, ask questions if have problems
  
−
# Present the results and answer to group mate questions
  
   
  +
'''Section 5'''
−
==== Tasks for midterm assessment within this section ====
  
   
  +
'''Section 6'''
   
  +
'''Section 7'''
−
==== Test questions for final assessment in this section ====
  
−
# Describe sprint rituals. Reason of necessity to follow rituals.
  
−
# Explain how Definition of Done might help to development team. What problems arises when you do not use such technique?
  
−
# What benefits for customer of providing Acceptance Criteria for every user story? What about developers, testers?
  
−
# Is it reasonable to provide Acceptance Criteria for epics stories?
  
−
# When it better to use T-short size estimation, Story Points estimation and Ideal Hours (days)?
  

Latest revision as of 09:50, 29 May 2023

Market Research for IT Startups

  • Course name: Market Research for IT Startups
  • Code discipline:
  • Subject area: Technological Entrepreneurship

Short Description

This course is for students who see themselves as entrepreneurs. The course is designed for the early development of business ideas and provides methods and guidelines for business research. The course teaches how to assess the potential of business ideas, hypothesis thinking, methods for generating ideas and testing their quality

Prerequisites

Prerequisite subjects

  • N/A

Prerequisite topics

  • N/A

Course Topics

Course Sections and Topics
Section Topics within the section
Ideation tools
  1. Art VS Creativity
  2. Ability to discover
  3. How to generate ideas
  4. Creativity sources
  5. Ideation in groups
  6. Rules for ideation for startups
Market research content
  1. Types of research: primary vs secondary
  2. How to plan a research
  3. Market research chapters content
  4. Frameworks used in a market research (SWOT, Persona, etc)
  5. Tools and sources to conduct a competitors analysis
Customer development
  1. Interviews are the main tool for “Get Out The Building” technique
  2. The "Mum's Test"
  3. Jobs-To-Be-Done
  4. Good and bad interview questions
Market sizing
  1. Market analysis VS market sizing
  2. Sizing stakeholders and their interests
  3. Sizing methods
  4. TAM SAM SOM calculation examples
Data for a research
  1. Sources and tools for competitors overview
  2. Sources and tools for product and traffic analysis
  3. Sources and tools for trend watching
  4. Life hacks for search
Founder motivation
  1. Ways to Stay Motivated as an Entrepreneur
  2. Exercises for founders motivation
Pitch Day
  1. Market research results presentations

Intended Learning Outcomes (ILOs)

What is the main purpose of this course?

This course aims to give students theoretical knowledge and practical skills on how to assess market potential at an early stage of an IT startup (or any company) development. The ultimate goal is to teach students to conduct market research for their business.

ILOs defined at three levels

Level 1: What concepts should a student know/remember/explain?

By the end of the course, the students should be able to ...

  • Market research techniques using open data,
  • Typology of market assessment methods,
  • Types of research data and their application,
  • Market research components: competitors overview, value proposition, trend watching, venture status, business models, buyers profile etc

Level 2: What basic practical skills should a student be able to perform?

By the end of the course, the students should be able to ...

  • Methods of ideation,
  • TAM SAM SOM method, 2 approaches,
  • Applied tools and resources for market sizing,
  • Principles to work with business hypotheses

Level 3: What complex comprehensive skills should a student be able to apply in real-life scenarios?

By the end of the course, the students should be able to ...

  • Identify and describe the market
  • Assess market potential for any business idea
  • Conduct relevant market research before starting up a business
  • Use the most relevant and high-quality data for a market research

Grading

Course grading range

Grade Range Description of performance
A. Excellent 85.0-100.0 -
B. Good 70.0-84.0 -
C. Satisfactory 50.0-69.0 -
D. Fail 0.0-50.0 -

Course activities and grading breakdown

Activity Type Percentage of the overall course grade
Paper #0: Market research structure 0-10 scale (costs 10% final)
Paper #1: TAM SAM SOM 0-10 scale (costs 20% final)
Workshops activity 3 points for each of 7 workshops: 1 point=participation, 2 points=discussion, 3 points=valuable results (costs 21% final)
Paper #2: Market research 0-10 scale (costs 30% final)
Final Presentation 0-10 scale (costs 20% final)

Recommendations for students on how to succeed in the course

Participation is important. Showing up and participating in discussions is the key to success in this course.
Students work in teams, so coordinating teamwork will be an important factor for success.
Reading the provided materials is mandatory, as lectures will mainly consist of discussions and reflections not slides or reading from scratch.
The main assignment in the course is Market research paper which is supposed to be useful not only for this course but s a basis for future business oriented courses

Resources, literature and reference materials

Open access resources

  • - article with reflections on the methodology book on the 55 typical business models
  • - a book with instructions on how to communicate with your potential users. How to conduct interviews so that you understand what the client wants to say and not what you want to hear.
  • - the case book on the Jobs To Be Done. With JTBD, we can make predictions about which products will be in demand in the market and which will not. The idea behind the theory is that people don't buy products, but "hire" them to perform certain jobs.
  • A selection of with a summary of key ideas from Harvard Business Review
  • F. Sesno "" - the book on how to get information out of people through questions.
  • a visual guide book to dealing with your inner procrastinator

Closed access resources

  • Crunchbase.com
  • Statista.com

Software and tools used within the course

  • Boardofinnovation.com
  • Miro.com
  • Notion.com
  • MS Teams

Teaching Methodology: Methods, techniques, & activities

Activities and Teaching Methods

Teaching and Learning Methods within each section
Teaching Techniques Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7
Problem-based learning (students learn by solving open-ended problems without a strictly-defined solution) 1 1 1 1 1 1 1
Project-based learning (students work on a project) 1 1 1 1 1 1 1
Differentiated learning (provide tasks and activities at several levels of difficulty to fit students needs and level) 1 1 1 1 1 1 1
Contextual learning (activities and tasks are connected to the real world to make it easier for students to relate to them); 1 1 1 1 1 1 1
Business game (learn by playing a game that incorporates the principles of the material covered within the course). 1 1 1 1 1 1 1
inquiry-based learning 1 1 1 1 1 1 1
Activities within each section
Learning Activities Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7
Interactive Lectures 1 1 1 1 1 1 1
Lab exercises 1 1 1 1 1 1 0
Group projects 1 0 0 0 0 1 1
Flipped classroom 1 1 1 1 1 1 0
Discussions 1 1 1 1 1 1 1
Presentations by students 1 0 1 0 0 0 1
Oral Reports 1 0 1 0 0 0 1
Cases studies 0 1 0 1 1 1 0
Experiments 0 0 1 0 0 0 0
Written reports 0 0 1 0 0 1 0
Individual Projects 0 0 0 1 0 0 0
Peer Review 0 0 0 0 0 0 1

Formative Assessment and Course Activities

Ongoing performance assessment

Section 1

Activity Type Content Is Graded?
Discussion Difference between Art and Creativity. Examples from your personal experience
Tools to manage your attention: work with exercises above
Is it true that an ideation stage is the very first step to take when starting your own business? If not, what needs to be done before?
Idea diary: share your experience, was it useful? How to keep motivation to continue?
Sharing your business ideas: is it risky for a founder? Why?
Name and discuss principles of hypothesis thinking
Name and comment on ideation tool you know. Did you have an experience with it?
Where to take creativity? Your advice
Lets find examples of “Steal like an artist” approach among startups
Create a list of 5 business ideas you have ever had in your mind. Choose 1 and make an exhaustive list of the problems that are associated with the proposed business idea.		 0
Workshop Break into teams, choose from the list below 1 tool to work with. Use the templates to create new business ideas. Summarize the results. Share your results and experience of using the template with other teams 1
Exercise Start an "Idea diary" (not necessarily business ideas): create a convenient place for notes (notion, pinterest, instagram, paper notebook, etc.). Note the time/place/circumstances of ideas coming, learn to write down ideas. Draw conclusions from 1 week's work: where, when, how, why new ideas arise and whether you can manage their flow. 0

Section 2

Activity Type Content Is Graded?
Discussion What are the basic steps in market research?
What are the commonly used market research methods?
What research question types can be asked in surveys?
Should startup prefer primary or secondary research?		 0
Workshop SWOT analysis: compare your business idea with competitors and market situation
Get familiar with industry trends and reports: Find and create a list of 3 to 5 business research papers or trend reports in your industry		 0
Home written assignment Market research doc: create a structure that is:
1-2 pages long
Describes your business idea
Contains the structure of your future research
Contains a list of questions to answer during the research for each chapter proposed
Contains links and references to data sources potentilly interesting to use in a research
Its feasible: it should be a chance you may answer all the questions stated in the doc
The doc format is designed and well structured		 1

Section 3

Activity Type Content Is Graded?
Oral test Good or bad interview question?
Useful or useless feedback?		 0
Workshop Work on your customer profile using the Persona template. Make a client interview script with the help of the Problem-validation-script. 1
Case study Watch the video with the case study. This is an example of HOW NOT to take a customer discovery interview. Discuss what went wrong? 0

Section 4

Activity Type Content Is Graded?
Workshop Estimate your target market using the TAM-SAM-SOM template in MIRO. Explain the data. 1
Case study Learn a market sizing case: online babysitting service 0

Section 5

Activity Type Content Is Graded?
Workshop Use 3 tools from this lesson's theory that you are least familiar with or have not used at all. From each source, take one insight on the state of your project's market. (For example, the total size of your target market, a leading competitor, number of users, or a growing trend) 0
Oral presentation Take one tool from the list below and create a “how-to” guide to the service for your classmates. The guide could be done in a form of 1) video-instruction 2) text 3) visualized scheme 4) presentation. The guide must answer how to use a tool and give an example of its use on concrete case study. Studying the guide should take your reader not mach then 15 min. 1

Section 6

Activity Type Content Is Graded?
Workshop Exercises:
Personal SWOT Analysis
List of Personal Achievements
Analysis of Motivating Activities
Your Personal Vision		 0

Section 7

Activity Type Content Is Graded?
Pitch session The final Market Research report should follow the structure discussed
Content of the oral presentation may include: business description, market overview, main sources used in the research, competitors overview, monetization opportunity, market size, further stages of research or business work, team, comments on some challenges during the work		 1

Final assessment

Section 1

  1. For the final assessment, students should complete the Market Research paper.
  2. It should follow the market research paper structure, contain information about market volume (TAM SAM SOM), data must be gathered with help of data sources learnt.
  3. The paper should refer to market potential and give the basis to make business decisions, answer questions on how to start and develop your idea, what is your business model, target customer persona, product MVP etc.
  4. Grading criteria for the final project presentation:
  5. Market sizing has been carried out
  6. Customer segments are named
  7. Сompetitor analysis has been conducted
  8. At least 2 prominent data sources are used
  9. Customer discovery interviews conducted
  10. Future steps are mapped out
  11. The final report is visualized clearly and transparent

Section 2

Section 3

Section 4

Section 5

Section 6

Section 7


The retake exam

Section 1

  1. For the retake, students have to submit the results of the market sizing exercise with the TAM SAM SOM method in the form of a visual framework studied.

Section 2

Section 3

Section 4

Section 5

Section 6

Section 7

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